REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Thomas Bros Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Thomas Bros Limited |
Thomas Bros Limited (Registered number: 04540471) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Thomas Bros Limited |
Company Information |
for the Year Ended 31 March 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
65 Knowl Piece |
Wilbury Way |
Hitchin |
Hertfordshire |
SG4 0TY |
Thomas Bros Limited (Registered number: 04540471) |
Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Prepayments and accrued income |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Thomas Bros Limited (Registered number: 04540471) |
Balance Sheet - continued |
31 March 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Thomas Bros Limited (Registered number: 04540471) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Thomas Bros Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts invoiced during the year, excluding value added tax. |
Revenue has been recognised on contracts which span the year end to reflect the companies partial performance of contractual obligations. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Freehold buildings | 2% per annum straight line |
Plant and Machinery | 14.29% per annum straight line |
Wash plant | 6.67% per annum straight line |
Office Equipment | 33.33% per annum straight line |
Motor Vehicles - Lorries | 20% per annum straight line |
Motor Vehicles - Cars | 33.33% per annum straight line |
No depreciation has been provided for on the quarry acquired during the year 30th September 2006 as it is deemed to be land and therefore has an unlimited useful life. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Thomas Bros Limited (Registered number: 04540471) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Office |
property | machinery | equipment |
£ | £ | £ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Thomas Bros Limited (Registered number: 04540471) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Motor | Fixtures |
vehicles | & fittings | Totals |
£ | £ | £ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 April 2022 |
Additions |
Transfer to ownership | (512,649 | ) | (1,442,348 | ) | (1,954,997 | ) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Transfer to ownership | - | (594,019 | ) | (594,019 | ) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Thomas Bros Limited (Registered number: 04540471) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 97,911 | 30,409 |
Other creditors |
Directors' current accounts | 18,935 | 18,935 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Bank loans |
Hire purchase contracts |
Mortgage | 470,010 | 539,697 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.23 | 31.3.22 |
£ | £ |
Hire purchase contracts | 1,124,884 | 559,161 |
Company mortgage | 764,101 | 830,559 |
Bank loans | 853,508 | 1,223,883 |
Debts owed under hire purchase agreements are secured on the assets that they have financed. |
The mortgage and bank overdraft is secured via a fixed and floating charge over the assets of the company. |
Thomas Bros Limited (Registered number: 04540471) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the year ended 31 March 2023 and the period ended 31 March 2022: |
31.3.23 | 31.3.22 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
10. | RELATED PARTY DISCLOSURES |
Debtors includes amounts owed by the following company where a director has a participating interest. |
During the year the company loaned £Nil (2022: £90,679) to Beldom's Skip Hire Limited. The balance |
outstanding at the balance sheet date was £250,327 (2022: £250,327). The loan is repayable on demand.This is included on other debtors. |
Included in other debtors amounts owed by relatives of the director £294,376 (2022: £283,389). |
Interest was charged on the amount of monies owed by the relatives of the director totalling Nil (2022 : £5,557) |
Purchases were made on behalf of Thomas Bros Holdings Ltd during the year and the balance owed to Thomas Bros Ltd at the balance sheet date was £304,300 (2022: £304,300) and is included in debtors. |
11. | ULTIMATE CONTROLLING PARTY |
In the director's opinion the company is controlled by Mr A Burton (Director) by virtue of his shareholding. |